levo

Globalisation

Trading blocs

  • 4 things to know
  • Paper 1 and Paper 3

Overview

The EU single market and its free movement, internal tariffs and the common external tariff, ASEAN and NAFTA, how blocs expand, and the effects on businesses inside and outside them, including trade diversion and trade creation.

What you need to know

Answer each one before you reveal it.

Your recallNot started
Process

What movement does the EU single market allow?

Process

How can a trading bloc grow, and how does the EU treat imports from non-members?

Evaluation

What do businesses gain and lose from a trading bloc?

Evaluation

How does harmonisation of regulations within a trading bloc benefit businesses?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    What does the EU single market allow regarding the movement of goods between member states?

    Model answer

    Free movement of goods between member states without restrictions.

  2. 2

    What does the EU single market permit regarding services across member countries?

    Model answer

    Free movement of services, allowing businesses to provide services across any member state.

  3. 3

    How does the EU single market treat the movement of capital between member states?

    Model answer

    It allows free movement of capital, enabling investment to flow freely between member countries.

  4. 4

    What freedom does the EU single market provide regarding labour?

    Model answer

    Free movement of labour, allowing workers to live and work in any member state.

  5. 5

    What happens to tariffs on trade between EU member countries?

    Model answer

    Internal tariffs are eliminated between member countries.

  6. 6

    How does the EU single market treat quotas on goods traded between member states?

    Model answer

    Internal quotas are eliminated between member countries.

Other ways to work this

The same content, four other ways.

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Meeting Customer Needs
The Market
Marketing Mix and Strategy
Managing People

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Net gain = − initial cost.
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AGross profit equals revenue minus cost of sales.
BOperating profit equals gross profit minus operating expenses.
CNet profit equals operating profit minus interest and taxation.

Build It gets the exam shape right

Assemble a full-mark answer from its marking points, in the order an examiner wants them.

Tariff means a tax imposed on imported goods.
TrueFalse

Test It catches misconceptions

Spot the fault in a statement. The traps are the mistakes students actually make.

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Brain Breaks between sessions

Short focus games to reset attention, so the next set lands better than the last.

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